I think it was a week ago, I saw a TV show about the fact that people relate a bottle's price with quality. The same product, when exposed with a higher price, sold more!
When we arrive at a hotel, and we see the prices of the things in the fridge, we may react in a number of ways:
- if it is much more expensive than in the supermarket: – these people are always trying to explore us! Dammit! I'll go and buy it in the corner's bar!
- if it is free: -they are making too much money with the room rate, otherwise they wouldn't cut us slack like this!
- if it is just a little more expensive than in the supermarket : - cool. These people are serious. They charge a fair price for what they provide!
Is it a good idea selling a bottle of mineral water for an amount three times higher than its regular price, and lose this message?
When a store puts 19.99 on the price tag, it is saying: I'm trying to fool you. I want to complicate your assessment. I'll do the same when I talk about the quality of my products!
I have learned the most delicious story about this game in Argentina. A company found out a way of replacing the copper-clad welding - very expensive - with a wire covered with a layer of colorless protection, much cheaper. The product's performance was practically the same.
If it was released it in the market with a lower price, it would deliver the message that it was an inferior product. The company released it with a price 20% higher than that of the copper-clad (similar to a copper coin), a SILVER ALAMBRE (wire) THAT IS ORO (gold).
It sold very well. A few weeks later, the company lowered the price by 10%. Sales skyrocketed. And the manufacturing cost was much lower than that of the copper-clad...
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